Higher electricity prices in the government’s forecast this year

 

Higher power prices are expected this week because of a number of factors, including the swelling growth of electricity needed for data centers across the U.S.

The prediction from the U.S. Energy Information Administration includes not just electricity prices but natural gas prices as well because it has the highest use in power plants. The higher wholesale power prices prediction from the EIA says all of the nation’s regional markets will see higher prices with the exception of Texas and the Northwest. Electrical prices are expected to average $40 per megawatt hour, an increase of 7% over last year, reported Reuters.

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